Hi guys. what a drastic day! Bitcoin just came all the way down from 7.1 to 6.3, which is a massive loss! many are so desperate, selling their altcoinss at their bottom level.
however, guys, the dip is not over. The fall is still yet to come. look at the alts. I have warned you, do not buy alts but people still ask me "isn't this cheap". please, the altcoins got cheaper! it cannot go to zero, but just look, it still has more underground! As I keep consistently writing, my game plan is 'shorting with btc'. I have wrote a ta with a long scenario, but i haven't gone long, just explaining a reasonable long proofs. and until now, i win this! next are my track record for the last days.
8.2->7.8k(sold)
7.7->7.4 7.3(sold 50% each level)
7.1->6.8 6.9(sold 50% each level)
6.7->6.39(sold 50% and holding)
I have earned a reasonable profit, but I am NOT done yet, this has to go more. today when 6850 neckline was broken, I quickly bought 6720. when price reached 6.39 i sold 505, i went long again with another bitmex account. for me, today is a lucky day, and I want to develop more and more of this, with healthy greediness.
i want to share again, my targets and perspective of September, and also, short term trading opportunities.
as you see in the chart, and my previous charts, we HAVE no supports left in moving average except 63/60/57, and weekly 100ema. how sad, but yes,
we have to make a strategy with this.
my view is that we are going to 5.5k, which is under previous low of 5.7k, and I, have full conviction that this should happen. It can even dip more to 100ema which is 5k, but, as we saw before at 5.7k, it really doesn't want to allow touching it, but GO NEAR IT. 5.5k is last year november low, which is significant, and this level, now, I think will be reached at earliest last week of AUGUST, or early September. the top spike after 5.5k bounce, should be
the july monthly high of 7.7k, and this too, i believe will happen UNTIL September 21th ETF hearing of SEC. so, please think my perspective as a view,
and make your own trading plan.
my plan is to accumulate as many btc's at higher prices at 67/68 level or even higher, and sell at 5k levels, switch to long AFTER I see bull divergence iDaily frame.
now, short term what will happen?
currently, bulls are trying to push through 6550 zone. however this is difficult after so much lost confidence in the market, EVEN THOUGH low time frames are oversold. however, it will cool off, try to make a rising wedge or something and reach 6600. below is an very early movement now BTC is making. low timeframes are oversold, so, it should try to move up until the next hours.
see the daily chart,
yes, the rebound is finally incoming. it should come, if not, it is not BTC! rsi level now at 33, it might go lower than that to 28~29, but bounce will 100% come at 6k levels(or worst 5k..). think the former bottom for this shoot up, 6.1~2k would be likely, BUT this needs to be taken consideration IF it has a bull div on frames. but, at the same time, it can shoot up without a bull div, because daily oversold is a very, very, serious one. it might not happen, so be careful! so happy trading, and always win!
so short term game plan for longs and shorts
1.shorts, accumulate from 6530->6650(6700 max, 6750 stoploss)
sell under 64 all the way to 62~63. BTC might panic and oversell to 6k levels, but sell it safely at 63 or bottom levels to secure your money.
->this trade is short term, for the next 48 hours.
2.longs, accumulate below 64, I would look for 6.2and 6.1(under 6050 should be stop)
sell target is 65~67 at the same day or next week.
switch to shorts at 67, and 66 at btc's spike.
however, guys, the dip is not over. The fall is still yet to come. look at the alts. I have warned you, do not buy alts but people still ask me "isn't this cheap". please, the altcoins got cheaper! it cannot go to zero, but just look, it still has more underground! As I keep consistently writing, my game plan is 'shorting with btc'. I have wrote a ta with a long scenario, but i haven't gone long, just explaining a reasonable long proofs. and until now, i win this! next are my track record for the last days.
8.2->7.8k(sold)
7.7->7.4 7.3(sold 50% each level)
7.1->6.8 6.9(sold 50% each level)
6.7->6.39(sold 50% and holding)
I have earned a reasonable profit, but I am NOT done yet, this has to go more. today when 6850 neckline was broken, I quickly bought 6720. when price reached 6.39 i sold 505, i went long again with another bitmex account. for me, today is a lucky day, and I want to develop more and more of this, with healthy greediness.
i want to share again, my targets and perspective of September, and also, short term trading opportunities.
as you see in the chart, and my previous charts, we HAVE no supports left in moving average except 63/60/57, and weekly 100ema. how sad, but yes,
we have to make a strategy with this.
my view is that we are going to 5.5k, which is under previous low of 5.7k, and I, have full conviction that this should happen. It can even dip more to 100ema which is 5k, but, as we saw before at 5.7k, it really doesn't want to allow touching it, but GO NEAR IT. 5.5k is last year november low, which is significant, and this level, now, I think will be reached at earliest last week of AUGUST, or early September. the top spike after 5.5k bounce, should be
the july monthly high of 7.7k, and this too, i believe will happen UNTIL September 21th ETF hearing of SEC. so, please think my perspective as a view,
and make your own trading plan.
my plan is to accumulate as many btc's at higher prices at 67/68 level or even higher, and sell at 5k levels, switch to long AFTER I see bull divergence iDaily frame.
now, short term what will happen?
currently, bulls are trying to push through 6550 zone. however this is difficult after so much lost confidence in the market, EVEN THOUGH low time frames are oversold. however, it will cool off, try to make a rising wedge or something and reach 6600. below is an very early movement now BTC is making. low timeframes are oversold, so, it should try to move up until the next hours.
see the daily chart,
yes, the rebound is finally incoming. it should come, if not, it is not BTC! rsi level now at 33, it might go lower than that to 28~29, but bounce will 100% come at 6k levels(or worst 5k..). think the former bottom for this shoot up, 6.1~2k would be likely, BUT this needs to be taken consideration IF it has a bull div on frames. but, at the same time, it can shoot up without a bull div, because daily oversold is a very, very, serious one. it might not happen, so be careful! so happy trading, and always win!
so short term game plan for longs and shorts
1.shorts, accumulate from 6530->6650(6700 max, 6750 stoploss)
sell under 64 all the way to 62~63. BTC might panic and oversell to 6k levels, but sell it safely at 63 or bottom levels to secure your money.
->this trade is short term, for the next 48 hours.
2.longs, accumulate below 64, I would look for 6.2and 6.1(under 6050 should be stop)
sell target is 65~67 at the same day or next week.
switch to shorts at 67, and 66 at btc's spike.
Trade active:
guys short trade was already active from hours ago when btc hit 6550. there is chance it might slide down to 6400, or even lower so watch. if entered in shorts at mid 65 level, i would not sell so fast but you can absolutely take profit at early 6.4k zone. small wedge has chances to breakout. tomorrow may be better than today, hopefully breaking 6550 above so we can have better entry.
Comment:
if we go down check daily indicators if it comes low to 30. levels to go long under 63 would be 6290/6170/6100/6070. in such FUD momentum it can even drop to 6080, if it breaks down from 6.3 and below. but i don't want to think of that really, too crucial.
Comment:
as expected, but sad, btc is breaking down, and it feel out of its triangle wedge. i am holing my short position. take profits slowly, 63 zone can be first target, following 62, 61. check daily ris when it reached 30, drop will slow down. that means short squeeze can happen any time! i will try to sell more at 6290, and rather hold it to see where it goes. we might not even have a jump up to 67/68 levels so i wouldn't care about short term profits.
Trade closed: target reached:
sold my shorts at 6200 level, entered long at 6150. lets see what happens.
Comment:
very lucky, today the market seems to move as I wrote! if 61/62 hold and shoots, it would confirm my so lucky day for this TA both short, and longs! But, if you go long on alt coins be careful. you need to see at least 4 hours from now if it will break 6k. remember, 6050 is stop, and you need to buy at lower levels.but, daily is oversold, and i think there should be a relief rally, even though it is short lived in coming days. it cannot always go down, down.
Comment:
so far it 62 is holding, but candle patterns are not that convincing. we might visit 6080/6100, or even worse 6000. so if you are to hold your long positions i think you should put much into those levels to make your average low. daily is oversold but 30 isn't a magic number to bounce, it can breach 28~29 so 59, 6k bounce is in the cards which i think will target 6.2k even though it bounces there.
Comment:
ok, guys. so bounce came at 62,61 levels(low was 6119), i got in 6150 scalped at 6265, got back in 6180 and holding long position after selling my shorts.it bounced to 6356, where i sold around 40% of what i bought.from the looks of it, it is still trying to make another bear flag?! the bottom was put in short, but the move now isn't so much convincing, daily MACD still bearish not confirming this move, rsi still hovering around the 30~31 zone. so from what i look now, it will have couple of more times to try 6350, and if it cannot go over that it will definitely test the lows again. so! sell your longs if you can(do not be so greedy in longs..they are a bonus profit) some. now btc would not always drop, some how if they manage to make a higher high, surpassing 6350, for like the first time in last 2weeks, it will becomes somewhat a 'bull flag', which gives market some confidence, and the raging battle for bulls vs bears would start
Comment:
a very,so very short term short position can be 6340/6350/6380/6420 buy, which you should ladder for more in upper levels. this, i think will work, for next 6 hours or so? sell point could be 6270~6300. i don't recommend this but i do VERY RISKY short trades so please tuck in if you think this is risky.
Comment:
just see how weak the market is! guys, the name of the game is shorting, unless you see clear bull signal. it is always worth trying challenging the bear flag. you guys can easily scalp in this junky market! you see now, it seems like it is supported by 6.25 levels, but it really isn't! it is supported by 6150 level already, which, in the past was the 'last resort of support' at 6k! btc will of course try to come up to 6500, but try to see if it even comes lower levels then today, and get supported by 6070,80 levels. if that breaks we go to 5.8 or 5.7 and we sell our shorts there firsthand before a big bounce(this is more like a scenario).
Comment:
BTC made a higher high with 6396! hooray! from the looks of it, it is trying to make a correction upwards after some consolidation. if fail to go above 6396 at low time frame, it will try again, so keep a look at it.
for shorts, now it is little risky to buy at 63zone, it can shoot up any moment,
try looking for 6470/6520 in coming 12~18 hours.
longs, if you bought at 61/62 level hold tight, alts hold tight, for now.
for shorts, now it is little risky to buy at 63zone, it can shoot up any moment,
try looking for 6470/6520 in coming 12~18 hours.
longs, if you bought at 61/62 level hold tight, alts hold tight, for now.
Comment:
guys! there is an article that sec will decide ETF in 2 month, which, is delayed one month more than sep 21th. market is moving, be safe.
Comment:
Guys my risky bet won again.i entered at 6380 today. btc came down it might has a chance to test next support 6080/5980 in the next 12 hours.Too early to call but indicators are too oversold it should bounce any moment so sell safely without so much greed!
Trade closed: target reached:
I closed my shorts at 6200. I cannot hold onto this when daily rsi has reached 30.if it goes to 5k area or 6k i would not be so sad just would try to make another strategy. This short party is going so insane.i would just try to be safe in vase of a squeeze.
Comment:
BOOOOM~~~~~~~~!!!! Guys, did you see that big squeeze to 6470? yes, that was just what I was worrying about!!! ii hope you guys are safe with trade. i didn't feel okay, too oversold on daily, after i sold my shorts at 6200. just before the boom. i could have been gone to the graves! after selling, i opened short orders at 6470, sold it at 6380 right away also!(didn't go long~~though...) this is what the market does to you when it is only going one way with insanity. anyway, it seems like the market will have better outlook even though it will be short lived one. trade safe!!
Comment:
guys if you have longs from 6200 area, you can take first profit i guess 30~40%. if the spark ends here it will revisit 63.5/8 area or even 6330 at worse, so you can get a ride back on pullbacks. for shorts if caught at 6470, you can keep it i think, but if there is a leg up to 65 or even 66 it will be in trouble. so shorting now, when s short term reversal happening is not such a good idea because we might can good chance of getting better price next week.